2011

[stangtime]

Because I think it is still a respectable business, where else can you make 100k and still play golf every day. And besides I love real estate, even with all of the hard times we have had. I worked my but off in the banking world and it got me downsized after 20 years. Now I can do an appraisal or two a day and still have time to play, that's why. Why be so negative, things will change, they always do.

Brad

What?


Dan

 

[Michigan CG]

What?


Dan

Don't you have socks to fold?

 

[stangtime]

Michigan - A never ending supply.

Dan

 

[KEN SMITH]

Did I read that right? Do a appraisal or 2 a day and still have time to play golf.Few appraisers I know make 100m a year

 

[Tim The Enchanter]

I can do one or so a day, but there's no time left for golf or other fun.

I'd have to be consistently real busy to gross $100k. Before expenses. :new_all_coholic:

 

[bradelyd]

Its simple math, if you due 350 appraisals (which is not hard) you will gross 100K, besides, what expenses do you really have, a few thousand for e & O , MLS fees, paper, supplies, ect. Come on guys, our office does 800 to 1000 a year now. I am thinking I make more as a trainee than most of you do. I did 258 appraisals last year, (as a trainee) before you guys say anything, I type everything in, no can phases, and I dont copy old files in. I guess I just dont have a life cause I work on week ends and nights to get the file dones. so 100K is not a big deal in our office, not when my supervisor is making 200 to 300K. Dont you guys buy real estate too, thats another 40 to 100K in profit if bought right and sold for a profit.

 

[stangtime]

Brad - Just wondering, how much time do you spend on each report? How much verification? Do you contact realtors to verify sales? Do you check deeds? Do you take pictures of all of your comps?

100k a year is certainly possible in this business, however, to make that much on the residential side you have to be working constantly. Very little if any free time. Looking at your estimate of 350 a year you're talking about one a day, seven days a week, 365 days a year, right?

That's no life, my friend.

Dan

 

[Mark K]

Hello,

I was hoping that someone could give me some direction in completing the needed hours. Brad

To address this part of your post, have you completed any, for lack of a better word, "practice" appraisals. IN law used to allow an appraiser to complete appraisals without a named client. You could appraise all of your friends and relatives houses if you wanted. You could even pull up the MLS and do drive-bys on the houses listed for sale. There was a limit on the % of hours in this category but it was something like 25% of the total or something like that. I know an appraiser that would go into a large tract house sub, take photos of all of the listed and recently sold homes and do maybe 10-15 drive-by's over a weekend. This probably wasn't the best method for learning the craft but it was legal.

Check the law and see if this is still allowed; I haven't heard otherwise but I know this was allowed a few years ago. One of the leading instructors for the AI classes in the Indy area recommended this if someone needed some hours.

As to playing golf and making $100K per year as an appraiser, it is possible but not as easy as it used to be.

 

[bradelyd]

Thanks Mark, I will check into it.

Dan, I am not going to get into that, let me tell you that I do everything under USPAP and more and still have time to play golf. No kids, and a working wife allow me to do nothing but work and play. In the summer it gets daylight at 5 am and does not get dark until 8 or 9pm, so plenty of daylight. Winter sucks though.

Brad

PS
Why would you ever rely on anything a REALTOR tells you as the truth?

 

[Doug Meyer]

Bradley, you are still new to this game and that is good. I have been in the RE industry for 30+ years and you know what, I am still learning everyday....You have just barely cracked the door on appraising. Are you here in the Indianapolis area?